Capital Gains Tax question regarding brokerage accounts?

you have your 1099B and each transaction should be listed because they each have different purchase dates(and sell dates) and you need the purchase price of each of them to ascertain your actual gain or loss, you definitely don't want to report the 'proceeds' as income alone because that is not the true picture of your gain or loss Sch D

You total up your profits and pay at the end of the year Bought a stock for $25 a share, paid $4 in commission Sold Stock for $40 paid $4 in commission Your profit which is taxed was $7

First off, losses offset your gains. Second, short term capital gains are taxed at your tax bracket and long term capitals gains are either taxed at 0 percent or 15 percent once again depending on your income level. Basically, your brokerage may withhold taxes. But pretty much you just report your capital gain and interest and dividends. And then go from there. And if you just sell and reinvest, then they are not going to tax you. They will tax you if you sell your stock and get cash proceeds. I sold stock this year and I only had a capital gain of 300 dollars. Then you just add that to your AGI.